Weiss Ratings Reaffirms "Hold (C)" Rating for PPG Industries (NYSE:PPG)

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for PPG Industries, reflecting caution among analysts regarding the stock's performance.
• The company's stock target prices have varied among analysts, with Royal Bank Of Canada raising it to $117.00 while Mizuho lowered it to $125.00.
• PPG Industries reported $4.20 billion in revenue for the last quarter, which was slightly above analyst estimates, but represented a 0.9% decrease from the previous year.

PPG Industries (NYSE:PPG - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by stock analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other research analysts also recently weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Mizuho cut their target price on shares of PPG Industries from $135.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Citigroup cut their target price on shares of PPG Industries from $124.00 to $120.00 and set a "buy" rating for the company in a research note on Monday. UBS Group cut their target price on shares of PPG Industries from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Wells Fargo & Company boosted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $127.09.

PPG Industries Price Performance

PPG Industries stock opened at $101.49 on Wednesday. PPG Industries has a 52 week low of $90.24 and a 52 week high of $132.18. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The firm's 50-day simple moving average is $108.30 and its 200 day simple moving average is $109.26. The firm has a market capitalization of $22.91 billion, a PE ratio of 23.01, a P/E/G ratio of 2.11 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the firm earned $2.50 EPS. The business's revenue for the quarter was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, equities research analysts predict that PPG Industries will post 7.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in PPG Industries during the 2nd quarter worth approximately $362,412,000. Price T Rowe Associates Inc. MD increased its position in PPG Industries by 58.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company's stock worth $524,627,000 after purchasing an additional 1,766,518 shares in the last quarter. Holocene Advisors LP increased its position in PPG Industries by 342.8% during the 2nd quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company's stock worth $192,109,000 after purchasing an additional 1,307,468 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in PPG Industries during the 1st quarter worth approximately $127,152,000. Finally, First Eagle Investment Management LLC increased its position in PPG Industries by 21.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company's stock worth $632,482,000 after purchasing an additional 971,799 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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